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ADP: Private sector employment rises 190,000 in August

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ADP:  Private sector employment rises 190,000 in August

Middle market companies add 66,000.

According to payroll processing giant ADP, US private employment rose by 190,000 in August, missing analysts’ expectations of a 201,000 increase.  Middle market companies added 66,000 jobs, or 35% of the total.

Goods-producing employment rose by 17,000 jobs in August, more than double the 7,000 gained in July. The construction industry added 17,000 jobs in August, up from 15,000 last month. Meanwhile, manufacturing added 7,000 jobs in August, after gaining only 1,000 in July.

Job growth remains strong and broad-based, except in the energy industry, which continues to shed jobs.

Service-providing employment rose by 173,000 jobs in August, up slightly from 170,000 in July. The ADP National Employment Report indicates that professional/business services contributed 29,000 jobs in August, up 3,000 from July. Trade/transportation/utilities grew by 28,000, down from 34,000 the previous month. The 13,000 new jobs added in financial activities was a gain from last month’s 10,000.

"The job growth numbers for August improved slightly from July,” said Carlos Rodriguez, president and chief executive officer of ADP. “The employment gains for the month are in line with the year to date average.”

Mark Zandi, chief economist of Moody’s Analytics, said, “Recent global financial market turmoil has not slowed the U.S. job market, at least not yet. Job growth remains strong and broad-based, except in the energy industry, which continues to shed jobs. Large companies also remain more cautious in their hiring than smaller ones.

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